New Farmland Price Record: $25,000 Per Acre in Plymouth County, Iowa
Record Land Sales 061422
Land sales continue to set records. Late last month, a farm in Plymouth County, Iowa sold for $25,000 per acre.
“This sale was pure cropland with no influence from development or wind energy,” says Jim Rothermich, vice president of Iowa Appraisal. “This farm is in an equity rich neighborhood with few farms ever selling.”
The buyer was a neighboring farmer, and the runner up bidder was an investor.
“For perspective on current market conditions, this sale price is the highest in Plymouth County ever and by some distance,” Rothermich says. “Dollars per tillable CSR2 in this county have increased 35.3% over the past six months, demonstrating explosive market conditions.”
Top 5 Sales in Plymouth County
- 5/27/22: $25,000 per acre, 96.33 acres
- 2/25/22: $20,075 per acre, 125.57 acres
- 12/27/21: $19,100 per acre, 77 acres
- 11/18/21: $18,600 per acre, 80 acres
- 11/18/21: $17,800 per acre, 120 acres
Generally, Rothermich says, May is one of the slowest months of the year, with 500 to 900 acres going to auction in Iowa. May 2022, however, came in at 5,589 acres.
“Compared to 2,418 acres the same time last year, auction activity remains well above average and there is a good number of auctions on the books for the next 30 days,” he says.
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